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Answer all of these, please 2 PA8-1 Recording Accounts Receivable Transactions Using the Aging Method [LO 8-2] The Kraft Heinz Company was formed in 2015

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2 PA8-1 Recording Accounts Receivable Transactions Using the Aging Method [LO 8-2] The Kraft Heinz Company was formed in 2015 with the merger of Kraft Foods and H J. Heinz Corporation. The company reported the following rounded amounts for the year ended January 3, 2016 (all amounts in milions) nts Credits Debits S 900 Accounts Receivable Allowance for Doubtful Accounts Sales (assune all on credit) 30 18, 300 eBook Required: Print 1. Assume Kraft Heinz uses of 1 percent of sales to estimate its Bad Debt Expense for the year. Prepare the adjusting journal entry required for the year, assuming no Bad Debt Expense has been recorded yet. 2 Assume instead Kraft Heinz uses the aging of accounts receivable method and estimates that $80 of its Accounts Receivable will be uncollectible Prepare the adjusting journal entry required at January 3, 2016, for recording Bad Debt Expense. 3. Assume instead that Kraft Heinz uses the aging of accounts receivable method and estimates that $80 of its Accounts Receivable will be uncollectible. Prepare the year-end adjusting journal entry for recording Bad Debt Expense assuming Kraft Heinz's unedjusted balance in Allowance for Doubtful Accounts at January 3, 2016 was a debit balance of $20 4. If one of Kraft Heinz's customers declared bankruptcy, what journal entry would be used to write off its $15 balance? ferences Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 2 Required 1 Assume Kraft Heinz uses V of 1 percent of sales to estimate its Bad Debt Expense for the year. Prepare the adjusting journal entry required for the year, assuming no Bad Debt Expense has been recorded yet. (If no entry is required for a transaction/event, select "No Jounal Entry Required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round your answers to the nearest whole number.) ts Show less A eBook View transaction list Print Journal entry worksheet ferences Record the entry for bad debt expenses under the percentage of credit sales method. Note: Enter debits before credits. Debit Credit General Joumal Date January 03, 2016 2 Required 4 Required 2 Required 3 Required 1 Assume instead Kraft Heinz uses the aging of accounts receivable method and estimates that $80 of its Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at January 3, 2016, for recording Bad Debt Experise. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round your answers to the nearest whole number.) oints Show less a plook View transaction list Print Journal entry worksheet 1 References Record the entry for bad debt expenses under the aging of accounts receivable method. Note: Enter debits before credits. Debit Credit General Journal Date January 03 2016 2 Required 4 Required 1 Required 2 Required 3 Assume instead that Kraft Heinz uses the aging of accounts receivable method and estimates that $80 of its Accounts Receivable will be uncollectible. Prepare the year-end adjusting journal entry for recording Bad Debt Expense assuming Kraft Heinz's unadjusted balance in Allowance for Doubtful Accounts at January 3, 2016 was a debit balance of $20. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Oints Show less & eBook View transaction list Print Journal entry worksheet References Record the adjusting entry for bad debts as of January 3, 2016 using the aging of accounts receivable method. Note: Enter debits before credits Debit Credit General Joumal Date January 03, 2016 2 Required 2 Required 3 Required 4 Required 1 If one of Kraft Heinz's customers declared bankruptcy, what journal entry would be used to write off its $15 balance? (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) points View transaction list eBook Journal entry worksheet Print A References Record the write-off of a certain customer account totaling $15 which is not collectible due to bankruptcy declared by the customer Note: Enter debits before credits General Journal Debit Credit Transaction Record entry Clear entry View general journal

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